Madison Air Solutions Corp Schedule 13G: Durable Capital Partners reports beneficial ownership of 9,259,259 shares of Class A common stock, representing 5.2% of the class. The holding is held directly by Durable Capital Master Fund LP; Durable Capital Partners, as investment adviser, has sole voting and dispositive power. The ownership percentage is based on 176,888,113 shares outstanding reported in the issuer's prospectus dated April 17, 2026.
Positive
None.
Negative
None.
Insights
Durable Capital reports a 5.2% passive stake via an advisory structure.
Durable Capital Master Fund LP directly holds 9,259,259 shares, and the reporting partnership states it has sole power to vote and dispose of those shares. The filing is a Schedule 13G disclosure tied to the prospectus share base of 176,888,113 shares.
Because this is a 13G disclosure, it signals institutional passive ownership rather than an active Section 13(d) activist filing; subsequent filings would show any change in intent or control.
Key Figures
Shares beneficially owned:9,259,259 sharesPercent of class:5.2%Shares outstanding (context):176,888,113 shares+2 more
5 metrics
Shares beneficially owned9,259,259 sharesDirectly held by Durable Capital Master Fund LP
Percent of class5.2%Based on 176,888,113 shares outstanding from prospectus dated April 17, 2026
Shares outstanding (context)176,888,113 sharesReported in issuer's prospectus dated April 17, 2026
Signature date04/23/2026Schedule 13G signature by authorized person
Key Terms
Schedule 13G, Beneficially owned, Sole dispositive power, CUSIP
4 terms
Schedule 13Gregulatory
"Item 1. | (a) | Name of issuer: Madison Air Solutions Corp"
A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.
Beneficially ownedregulatory
"Item 4. | Ownership (a) | Amount beneficially owned: The information required by this item"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
Sole dispositive powerregulatory
"Durable Capital Partners, as the investment adviser, has sole power to direct the vote and disposition of the Shares"
Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.
CUSIPfinancial
"CUSIP Number(s): 55658T105"
A CUSIP is a nine-character alphanumeric code that uniquely identifies a U.S. or Canadian financial security—such as a stock, bond, or fund share—like a Social Security number for an investment. It matters to investors because brokers, exchanges and record-keepers use the CUSIP to match trades, track ownership, settle transactions and pull accurate records, reducing errors and ensuring money and securities go to the right place.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Madison Air Solutions Corp
(Name of Issuer)
Class A common stock, par value $0.0000001 per share
(Title of Class of Securities)
55658T105
(CUSIP Number)
04/16/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
55658T105
1
Names of Reporting Persons
Durable Capital Partners LP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
9,259,259.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
9,259,259.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
9,259,259.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.2 %
12
Type of Reporting Person (See Instructions)
IA, PN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Madison Air Solutions Corp
(b)
Address of issuer's principal executive offices:
444 West Lake Street, Suite 4460, Chicago, Illinois 60606
Item 2.
(a)
Name of person filing:
Durable Capital Partners LP
(b)
Address or principal business office or, if none, residence:
4747 Bethesda Avenue, Suite 1002, Bethesda, Maryland 20814
(c)
Citizenship:
The Reporting Person is a limited partnership organized under the laws of the State of Delaware.
(d)
Title of class of securities:
Class A common stock, par value $0.0000001 per share
(e)
CUSIP Number(s):
55658T105
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
The information required by this item with respect to the Reporting Person is set forth in Rows 5 through 9 and 11 of the cover page to this Schedule 13G. The ownership percentages reported are based on 176,888,113 outstanding shares of Class A common stock, par value $0.0000001 per share (the "Shares"), as reported in the Issuer's prospectus filed on April 17, 2026. Durable Capital Master Fund LP directly holds 9,259,259 Shares. The Reporting Person, as the investment adviser to Durable Capital Master Fund LP, has sole power to direct the vote and disposition of the Shares. Durable Capital Partners GP LLC ("Durable GP") is the general partner of the Reporting Person, and Henry Ellenbogen is the chief investment officer of the Reporting Person and the managing member of Durable GP.
(b)
Percent of class:
5.2 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
9259259
(ii) Shared power to vote or to direct the vote:
0
(iii) Sole power to dispose or to direct the disposition of:
9259259
(iv) Shared power to dispose or to direct the disposition of:
0
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
See disclosure of relationships among parties under Item 4. The economic benefits of the Shares are shared based on agreements among the parties.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
See control and Shares holding disclosure in Item 4.
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
What stake does Durable Capital report in Madison Air Solutions (MAIR)?
Durable Capital reports beneficial ownership of 9,259,259 shares, equal to 5.2% of the class. The percentage uses 176,888,113 shares outstanding from the issuer's prospectus dated April 17, 2026.
Who directly holds the shares reported by Durable Capital in MAIR?
The shares are directly held by Durable Capital Master Fund LP. Durable Capital Partners files as the investment adviser with sole voting and dispositive power over those shares.
What type of SEC filing reported Durable Capital's position in MAIR?
The position was reported on a Schedule 13G, which is used for passive institutional ownership disclosures rather than activist 13(d) filings or Form 4 insider trades.
Does the filing indicate any shared voting or dispositive power?
No. The filing lists 0 shared voting power and 0 shared dispositive power; Durable Capital reports sole voting and sole dispositive power for the 9,259,259 shares.
What is the reporting date and signature date on the Schedule 13G?
The Schedule 13G cites the ownership facts and is signed by an authorized person on 04/23/2026. The prospectus used for the share base is dated April 17, 2026.
